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wr berkley corp (WRB) Details

W. R. Berkley Corporation, an insurance holding company, operates as commercial lines writers primarily in the United States. The company operates in three segments: Insurance-Domestic, Insurance-International, and Reinsurance-Global. The Insurance-Domestic segment underwrites risks of various business lines, including premises operations, commercial automobile, property, general liability, products liability, and professional liability lines. This segment also provides commercial insurance products and services to small-to-mid-sized businesses, and state and local governmental entities primarily in 45 states and the District of Columbia; and services comprising claims, administrative, and consulting services. The Insurance-International segment underwrites specialty, casualty, property, automobile, group life and health and workers' compensation, professional indemnity, directors’ and officers’ liability, medical malpractice, general liability, personal accident and travel, engineering and construction, and surety lines of business in approximately 60 countries. The Reinsurance-Global segment offers other insurance companies and self-insureds with assistance in managing their net risk through reinsurance on a portfolio basis through treaty reinsurance or on an individual basis through facultative reinsurance. W. R. Berkley Corporation was founded in 1967 and is based in Greenwich, Connecticut.

wr berkley corp (WRB) Key Developments

W.R. Berkley Corporation Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Jul 27 15

W.R. Berkley Corporation reported earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported operating income of $105 million or $0.81 per share, which is almost unchanged from $109 million or $0.82 per share a year ago. The slight decline in earnings was a result of higher underwriting profits that were offset by a modest decline in investment income. Overall pretax underwriting profits were up 9% to $87 million. Investment income was $128 million, that's down $11 million from a year ago. The decline was primarily related to lower earnings from merger arbitrage account, which broke even in the quarter compared with income of $7 million in last year's second quarter. Pretax ROE was 15.5%. After-tax ROE was 10.7%. Book value per share as at end of the quarter was $36.76. Net income attributable to common stockholders for the second quarter ended June 30, 2015 was $123.03 million, or $0.95 per diluted share, compared to $179.96 million, or $1.35 per diluted share, for the same quarter ended June 30, 2014. Total revenues for the second quarter ended June 30, 2015 were $1.79 billion, compared to $1.80 billion for the same quarter ended June 30, 2014.
For the six months ended, the company reported net income attributable to common stockholders for the six months ended June 30, 2015 was $241.34 million, or $1.84 per diluted share, compared to $349.63 million, or $2.60 per diluted share, for the same period ended June 30, 2014. Total revenues for the six months ended June 30, 2015 were $3.53 billion, compared to $3.50 billion for the same period ended June 30, 2014.

W.R. Berkley Corp Forms Berkley Global Product Recall Management

Jul 20 15

W.R. Berkley Corporation announced the formation of Berkley Global Product Recall Management, to aid all types of businesses throughout the world in the prevention and management of product recall incidences. Products and services will be available through the W. R. Berkley Corporation network of companies. W. R. Berkley Insurance Group is rated A+ (Superior) by A.M. Best Company Inc. Louis Lubrano has been named president of Berkley Global Product Recall Management. Mr. Lubrano has more than 30 years of property casualty insurance industry experience, including over 10 years as a leader in crisis management. Philip Rorty has been appointed chief underwriting officer. He brings to that position nearly 40 years of insurance and risk management experience as both an insurance leader and a corporate risk manager. Tamra Maupin is joining the new operating unit as chief operating officer, with more than 15 years of experience in the insurance market.

W. R. Berkley Corporation announced the formation of Berkley International Seguros Colombia S.A., a W. R. Berkley Company, to provide a full range of commercial insurance products, including construction all risk, surety, general liability, directors and officers liability, select classes of professional liability and cargo.

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